D1 Capital Partners L.P. Has $918.75 Million Stock Position in Maplebear Inc. (NASDAQ:CART)

D1 Capital Partners L.P. cut its stake in Maplebear Inc. (NASDAQ:CART) by 22.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,551,414 shares of the company’s stock after selling 6,359,608 shares during the quarter. Maplebear accounts for about 17.7% of D1 Capital Partners L.P.’s investment portfolio, making the stock its largest holding. D1 Capital Partners L.P. owned 0.09% of Maplebear worth $918,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CART. Huntington National Bank bought a new position in shares of Maplebear in the 3rd quarter worth approximately $54,000. nVerses Capital LLC increased its stake in shares of Maplebear by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the company’s stock worth $55,000 after purchasing an additional 1,600 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Maplebear in the 3rd quarter worth $74,000. Quarry LP lifted its position in Maplebear by 269.5% during the second quarter. Quarry LP now owns 3,928 shares of the company’s stock valued at $126,000 after purchasing an additional 2,865 shares in the last quarter. Finally, Vinva Investment Management Ltd purchased a new stake in Maplebear in the third quarter worth about $212,000. Institutional investors own 63.09% of the company’s stock.

Insider Activity

In related news, CAO Alan Ramsay sold 2,247 shares of Maplebear stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $41.06, for a total transaction of $92,261.82. Following the transaction, the chief accounting officer now owns 89,982 shares in the company, valued at approximately $3,694,660.92. This trade represents a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Morgan Fong sold 29,253 shares of Maplebear stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.03, for a total transaction of $1,405,021.59. Following the sale, the general counsel now directly owns 258,406 shares in the company, valued at approximately $12,411,240.18. The trade was a 10.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,954 shares of company stock worth $4,890,405 over the last quarter. 36.00% of the stock is currently owned by corporate insiders.

Maplebear Price Performance

NASDAQ:CART opened at $43.44 on Friday. The company’s fifty day moving average price is $43.17 and its 200-day moving average price is $37.03. The firm has a market capitalization of $11.16 billion, a P/E ratio of 29.15, a PEG ratio of 1.12 and a beta of 1.12. Maplebear Inc. has a 1-year low of $22.13 and a 1-year high of $50.01.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.20. The business had revenue of $852.00 million for the quarter, compared to analyst estimates of $844.03 million. Maplebear had a net margin of 13.37% and a return on equity of 13.78%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted ($20.86) EPS. Equities analysts anticipate that Maplebear Inc. will post 1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

CART has been the subject of a number of recent research reports. Wedbush boosted their price objective on Maplebear from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. JMP Securities lifted their target price on shares of Maplebear from $42.00 to $51.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Citigroup boosted their price objective on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group began coverage on Maplebear in a research report on Wednesday, October 16th. They set a “hold” rating and a $43.00 target price for the company. Finally, Macquarie upped their price target on Maplebear from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Maplebear has a consensus rating of “Moderate Buy” and a consensus price target of $47.29.

Maplebear Profile

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.